China Merchants Energy Shipping (CMES) has provided details of what it plans to do with its container and roro fleets.
Splash reported last month on plans to spin off Sinotrans Container Lines and China Merchants RoRo Transportation (Guangzhou RoRo) in a deal with compatriot Antong Holdings. CMES, China’s second-largest shipowner, has now revealed it will take over Antong in the process.
Antong went into administration in late 2019 and was restructured a year later in a deal with Fujian Zhaohang Logistics Management, a joint venture between China Merchants Port Holdings and AVIC
“CMES anticipates significant synergistic benefits from this transaction,” the company stated in a stock market release.
The combined container fleet of Antong and CMES will make it the 19th largest container carrier in the world with around 140,000 slots.
“Following the restructuring, CMES will concentrate on its core businesses of oil, dry bulk, and LNG transportation,” the company stated.
